36 U.S.C. § 20105 — Powers

submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 88 words · no verdicts yet

in plain englishAI-generated · not legal advice

The corporation can adopt bylaws, hire staff, and make contracts. It can own, lease, and transfer property, and borrow money. It can also sue and be sued.

The corporation may: (1) adopt and amend bylaws to manage its property and run its affairs; (2) adopt and change a corporate seal; (3) choose officers, managers, agents, and employees as its activities require; (4) make contracts; (5) acquire, own, lease, mortgage, and transfer property as necessary or useful for the corporation's purposes; (6) borrow money, issue debt instruments, and secure its debts by granting security interests in its property; and (7) sue and be sued.

the actual law source: uscode.house.gov ↗public domain

The corporation may—

(1)

adopt and amend bylaws for the management of its property and the regulation of its affairs;

(2)

adopt and alter a corporate seal;

(3)

choose officers, managers, agents, and employees as the activities of the corporation require;

(4)

make contracts;

(5)

acquire, own, lease, encumber, and transfer property as necessary or convenient to carry out the purposes of the corporation;

(6)

borrow money, issue instruments of indebtedness, and secure its obligations by granting security interests in its property; and

(7)

sue and be sued.

Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1285.)

history & why it existsrecord from the source credit

1998Enacted · Pub. L. 105-225 · 112 Stat. 1285

A history note hasn’t been published yet. The record shows enactment by Pub. L. 105-225 on 1998-08-12.

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